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I have a holding in SQZ too, DU.
A regular poster on HUR tipped it at 23p.
I 'decided' to make a big investment in it at 28p, but didn't.
When it hit 30p, I wondered whether it was taking off.
That is precisely the situation in which I would years ago have been 'sucked in' to a bad company, but in this case I hesitated.
It was on a P/E of two, which is why I thought the tipster could be right, but I asked myself whether their one producing asset could go wrong.
I knew I had missed my chance when trading was suspended.
Posters were excited , with one saying it had to return at 4 times the price at suspension.
I did manage to buy some at double, i.e. 56p.
I'm still holding, but see it more as a missed opportunity than a success.
I understand what you say, Longwait. Whilst I do address my responses to Mr Chicken, my aim is to get wider messages about JOG out there, because it's reasonably clear to me JOG is a misunderstood company. Well, I reckon it is anyway. After a few set-backs a while ago, I decided only to invest in companies where I fully trusted management who were themselves dependent on outcome for their financial success in life. The result? My portfolio consists today of only two shares (SQZ is the other). Yes - they're that hard to find.
My experience is that talented and hard-working people tend not to fail, although outside risk can never be eliminated. Debt is the enemy and so is the constant dilution caused by raising money at the wrong times and share prices. JOG doesn't have any debt and has been very careful with its cash resources. Two placings and an offer caused the number of shares in issue to grow from 8.36m to today's 21.8m but the cash had to come from somewhere and to borrow (assuming it would have been possible) would have been the wrong move. I don't believe we'll see any form of fund raising in the foreseeable future. Farm-out is imv the best mechanism to use forthe cash that will be needed to take things to the next platform.
SQZ generated net cash of cĀ£60m in 2019 to add to the Ā£40m it already had. It intends to declare its maiden dividend in April (I'm expecting a 4 or 5% yield) so things do occasionally go to plan. 5 or 6 years ago the whole company was valued at about Ā£7m. Today, with NO additional shares issued, it has a market cap of close to Ā£300m - and imv is still materially undervalued.
So it can and does happen, but patience and fortitude is required for the real rewards to vest. My investment strategy tends towards "sh*t or bust" which I accept is not covered in the manuals. We only come this way once................ "go for it" is a term I understand when I am comfortable with an investment that meets my criteria. There won't be any more after my two present holdings have played out. There is way too much dishonesty in the UK's markets and the PI can't expect to win with a portfolio with any balance to it. Regulation was killed years ago and imv is worse today than it has ever been.
I won't go on. I'm looking for an exit here at Ā£43 (same price as at Trap Oil's IPO in 2011). OK - I might take a bit less............. :-)
dyor
Since RG has been in the habit of selling three or so lots of 10,000 shares in a day, it is plausible that the three lots sold yesterday morning were his.
He has definitely not sold any yet this morning and, if he is planning to sell another million shares, he seems to be taking his time.
I doubt that he will sell any at below 100p, but if he does then it is extremely unlikely to be a million shares.
Sorry, DU, but TSD isn't interested in facts and his comments are the very opposite of facts.
You don't seem to understand what the game is about, either in JOG or in the markets generally, Trigger. Are you an outrider for those who live their lives in the herd. 'Herd people' people rarely make it beyond the bottom step in life because their thinking is too small. They fail to put any effort into understanding fundamentals applying to companies that people already way above them in the monetary food chain have worked diligently and intelligently to identify and act on.
You say: "I just canāt believe with a Ā£42 price prediction by the baby on here, there is not a millionaire in the background who could make 42 times his Money and become a multi millionaire. !!!!!". I have news for you: there are at least 5 "millionaires" I know personally who invested in JOG at prices much lower even than today's. They're still holding, but is it reasonable to expect these people to buy more - portfolio balance has to come into - just because there's a short-term share overhang caused by one investor deciding to cash in his chips? Yes, you might say, but why then aren't institutions or other millionaires piling in, with JOG having (independently confirmed) net assets of Ā£42 a share? Well - there's a conundrum for us to wrestle with.
Oil & AIM are both presently about as popular as a STD. Fund managers also exhibit herd behaviour - and most aren't very clever either (probably a bit brighter than you but we're splitting hairs).
Short term price doesn't really matter. Nor will it matter much if people pay 95p, 100p, 150p or even 200p - the lower the entry price the greater the eventual gain of course. The difficulty people are going to have when the tide turns is getting in at all. There are only 21.8m shares in issue and prices move quickly. We'll get news soon enough. My own assessment of JOG's situation is that, if things go broadly according to plan with farm-out(s) later this year and FDP approval in 2021, the Company will be put in play. Leave infrastructure and oil extraction to bigger fish. That would just be my personal preference - age, personal circumstances and risk tolerance might dictate differently to others.
RG will soon be gone. What he seems to have sold of late (if the 10k lots are his) has been mopped up by what looks to be someone who's accumulating. Maybe one of the institutions has woken up, or a fund manager has emerged whose main aim isn't just bonus protection? Who knows? It's clearly a funny world. When JOG only had an 18% share of an absolute top-whack estimated 130MMstb (ie 24MMstb) in an untested field in the GBA, the market said it was worth Ā£50m. Now that it owns outright 142MMstb of discovered oil - most of it flowed - it's worth Ā£22m. Makes sense.
The market has JOG as a binary bet - it's saying JOG won't raise the funds to move forward with the GBA discovered oil. I say it will but where's the downside? 142MMsb @ $1 pb anyone? Ā£5 a share.
Silence
all imo/dyor